Cryptocurrency Not Yet Widespread in Canada. 🇨🇦🪙
According to the latest report from the Bank of Canada, cryptocurrency usage is still not widespread in the country. Despite the growing global interest, Canadians continue to prefer cash.
A survey conducted in 2023 showed that cash was used in 20% of all transactions, while the proportion of those who paid with Bitcoin was less than 3%. Although there are more than 3,000 Bitcoin ATMs in the country, 80% of the survey respondents are not considering giving up cash.
However, interest in cryptocurrencies is increasing among institutional investors. According to a KPMG report, 39% of Canadian institutional investors made cryptocurrency investments in 2023. The approval of Bitcoin ETFs has particularly boosted this interest.
